What Tweeq does

Tweeq International Company for Information Technology (شركة طويق الدولية لتقنية المعلومات) is a Riyadh-headquartered, SAMA-regulated digital wallet fintech operating in Saudi Arabia. The company offers a mobile-first consumer e-wallet application (iOS and Android) delivering a branchless financial account with fee-free domestic peer-to-peer transfers via the TweeqTag @username system, real-time spending analytics by category, merchant, and city, and merchant-funded cashback rewards of up to 8% on eligible retail spending. The platform issues a co-branded mada+Mastercard payment card with NFC and 3D Secure support and integrates with Apple Pay, mada Pay, SARIE, and SADAD for full coverage of Saudi payment rails. Tweeq also extends supervised accounts to minors aged 15-17 with parental consent, addressing an underbanked segment underserved by traditional banks.

Tweeq's revenue model is predominantly transactional and free at the core: no card issuance, annual, or domestic transaction fees are charged to consumers. Revenue is generated from a 2% international transaction fee, SAR 10 card replacement and delivery fees, a SAR 50 dispute fee, wallet float, and merchant-funded cashback economics, where Tweeq earns a share of merchant marketing spend routed through Mastercard's network. Distribution is entirely product-led and self-serve through app store downloads, with no sales motion or enterprise GTM. The company is PCI DSS certified, holds principal membership with Mastercard and Saudi Payments (mada), and is regulated under SAMA's e-wallet framework.

Founded in 2019 per commercial registration and operationally launched in 2021 with a seven-figure USD seed round co-led by STV and Raed Ventures, Tweeq operated as an independent entity until its September 2024 acquisition by Saudi BNPL leader Tabby for an undisclosed sum. Following the acquisition, Tweeq continued to operate independently until December 10, 2025, when wallet services were temporarily suspended pending further notice. The company's strategic trajectory is now defined by the parent Tabby's integration plans rather than standalone scaling.

Name

Tweeq

Legal name

Tweeq International Company for Information Technology (شركة طويق الدولية لتقنية المعلومات)

Website

https://tweeq.sa

Company type

Private

Founded year

2021

Operating status

Acquired

Headcount range

11–50 employees

Short description

Tweeq is a Riyadh-based, SAMA-regulated consumer digital wallet offering fee-free P2P transfers via TweeqTag, a co-branded mada+Mastercard card, merchant-funded cashback, and spending analytics to Saudi individual consumers and supervised minors, now owned by Tabby following its 2024 acquisition.

Ownership category

akta.pro rank

Product category

Digital Wallet

akta.pro primary industry

General-Purpose Digital Wallets (P2P + Merchant) (FSAMAEAA)

akta.pro secondary industries

Youth / Family Wallets & Allowance Payments (FSAMAEAK), Biller Direct EBPP Platforms (FSAMAJAA)

Keywords

• Digital wallet services
• Mobile payment platform
• Peer-to-peer transfers
• Cashback rewards program
• Consumer digital banking

Headquarters

HQ city

Riyadh

HQ country

Saudi Arabia

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales, Others

Revenue model

1. Interchange & Transaction Fees: Tweeq earns interchange revenue on card transactions. Domestic mada network transactions carry no fees; international transactions incur a 2% fee. The company also benefits from the float on wallet balances held pending settlement.
2. Cashback Program (Merchant-Funded): Tweeq operates a cashback program funded by merchants who register with Mastercard's merchant network. Tweeq earns a share of the merchant's marketing investment in return for driving customer spend to their outlets.
3. Card Fees & Replacement Charges: Revenue from card-related fees: SAR 10 card replacement fee and SAR 50 dispute fee. Card issuance and annual fees are waived. International transaction fee of 2% is charged on cross-border purchases.
4. Wallet Top-up & Loading Fees: Users load funds into their Tweeq wallet from bank accounts, debit cards (mada/Visa/Mastercard), or Apple Pay. While domestic loading appears free, international card loading may be subject to fees based on card network rules.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Tweeq is a SAMA-regulated digital wallet application that provides Saudi consumers with a branchless financial account. Users receive a co-branded mada+Mastercard payment card, make instant wallet-to-wallet transfers via TweeqTag handles, earn merchant-funded cashback on retail spending, and access real-time spending analytics by merchant, category, and city. The platform integrates with Apple Pay and mada Pay for contactless mobile payments and operates as a direct-to-consumer alternative to traditional banking in Saudi Arabia.

Product overview

Tweeq (operated by Touwiq International Company) is a Saudi-based fintech company offering a digital wallet platform providing financial services under Saudi Central Bank regulation. The core product is the Touwiq (طويق) digital wallet app, which serves as a unified financial account enabling users to spend, save, send money, and make payments. The platform includes a co-branded Mastercard/mada payment card (Touwiq Card), the Tweeqtag unique username feature for peer-to-peer transfers, and a cashback rewards program. Integration support includes Apple Pay and mada Pay for mobile contactless payments. In September 2024, Tweeq announced its acquisition by Tabby, continuing to operate independently.

Differentiator

Problem solved

Functional benefit

Products and services

• Tweeq (Touwiq) Digital Wallet SAMA-regulated electronic wallet mobile application providing Saudi consumers with a branchless financial account: a co-branded mada+Mastercard payment card (physical and virtual), instant wallet-to-wallet P2P transfers via TweeqTag handles or phone number, merchant-funded cashback on eligible retail spending, real-time spending analytics by merchant/category/city, card lifecycle controls (freeze/unfreeze, NFC, online, ATM, international toggles), Apple Pay and mada Pay tokenization, and SARIE-based interbank settlement. Onboarding is self-serve through the app with SAMA-compliant KYC.

Quantifiable outcome

• Cashback of up to 8% on Saudi retail spending (category/merchant dependent)
• +4 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature8 records

Partnerships

Five partnerships are on record, tiered flagship and core.

• TabbyflagshipStrategic or Co-development Partner · 1 September 2024In September 2024, Saudi BNPL leader Tabby announced the acquisition of Tweeq for an undisclosed sum, integrating Tweeq's digital wallet and money management tools into Tabby's product suite. Tweeq continues to operate independently with no changes to existing accounts. The acquisition reinforces Tabby's market leadership in the Saudi fintech ecosystem.
• MastercardcoreTechnology or IntegrationTweeq is a principal member of Mastercard and issues co-branded Mastercard-mada payment cards. The partnership enables Tweeq's card to be accepted at over 30 million merchant locations globally and supports international transaction processing.
• Saudi Payments (mada)coreTechnology or IntegrationTweeq is a principal member of Saudi Payments (mada), enabling domestic card acceptance at all mada-enabled point-of-sale terminals across Saudi Arabia and integration with the SARIE (instant payment) system for real-time inter-bank transfers.
• Saudi Central Bank (SAMA)coreTechnology or IntegrationTweeq is licensed and regulated by the Saudi Central Bank (SAMA), operating under the Central Bank Directives for payment services. SAMA oversight ensures compliance with AML/CFT, KYC requirements, and consumer protection standards.
• ApplecoreTechnology or IntegrationTweeq cards are compatible with Apple Pay, allowing iOS users to add their Tweeq card to Apple Wallet for contactless in-store, online, and in-app payments using Face ID, Touch ID, or device passcode.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• stc Pay: Saudi Telecom Company (stc) digital wallet — the same product category (mobile-first digital wallet) for the same Saudi consumer market, with similar cashback and P2P features. Closest direct competitor.
• URPay: Al Rajhi Bank-backed consumer digital wallet in Saudi Arabia. Directly competes with Tweeq on P2P transfers, cashback, mada debit cards, and Saudi consumer onboarding under SAMA regulation.
• Mobily Pay: Telecom-backed (Etihad Etisalat / Mobily) digital wallet in Saudi Arabia. Same product category — mobile wallet with P2P, merchant payments, and mada acceptance — competing for the same Saudi consumer base.

Emerging players

• Tamara: Saudi BNPL provider expanding beyond installments into broader consumer finance. Sibling Saudi fintech with overlapping wallet/payments ambitions and similar investor profiles.

Broad incumbents

• Tabby: Tweeq's parent company and Saudi BNPL market leader (valued above USD 3B in 2023). Broader consumer fintech operator; adjacent rather than directly competing, but the strategic acquirer and integration partner for Tweeq.
• SNB / AlAhli (Saudi National Bank) Digital Wallet: Largest Saudi bank with a digital wallet app on mada rails. Bank-backed incumbent competing with Tweeq across deposits, cards, and consumer payments, with significantly larger balance-sheet funding for rewards.
• Apple Pay: Global mobile wallet that Tweeq cards tokenize into for NFC payments. A platform partner rather than direct competitor in Saudi, but a broader-incumbent benchmark for tap-to-pay and consumer wallet UX.
• Google Pay: Global mobile and online wallet. Indirect peer — offers similar P2P and merchant-payment functionality at a global scale; useful for international wallet benchmark.
• PayPal: Global digital wallet pioneer with P2P, merchant acceptance, and consumer rewards. Useful product-pattern peer for a fee-free, social, cashback-led wallet model.
• Venmo: US P2P social-payment wallet owned by PayPal. Closest product-pattern peer to Tweeq's social/P2P TweeqTag-driven wallet UX, scaled to a much larger market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/tweeqapp
• LinkedInlinkedin.com/company/tweeq

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds2 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Tweeq